Bitcoin short-term holder cost basis is approximately $70,700, and resistance remains above $70,000

Odaily reported that according to Darkfost's monitoring, Bitcoin short-term holders have been in a prolonged loss-making state, which is one of the more obvious market characteristics in each bear market. Data shows that the current Bitcoin price has been below the short-term holder cost basis for more than nine consecutive months. Currently, the short-term holder cost basis for Bitcoin is approximately $70,700, and it continues to form an upper resistance level. The market trend in May already reflected this pressure, when BTC quickly pulled back after testing the $82,000 area.